Framatome’s sales amounted to €3,362 million in 2021, an organic increase of 1.9% over 2020. A significant portion of sales are made within the Group. This growth is explained by more sustained levels of business with the Group.
Sales by the United Kingdom segment amounted to €10,114 million in 2021, an organic increase of €762 million (+8.4%) from 2020.
This rise is explained by higher electricity prices and the increase in volumes sold, reflecting the takeover of Utility Point and Green Network Energy customers (under the supplier of last resort mechanism). Cold weather in the first quarter and the 5% rebound in consumption by business customers also contributed to sales growth. These favourable developments were partly counterbalanced by a decrease in nuclear power output (-4TWh) and by lower realised sales prices for nuclear power due to purchases of energy at high prices.
The Italy segment’s sales totalled €11,212 million in 2021, showing organic growth of €5,258 million (+88.1%) compared to 2020.
In the gas activities, sales were up as a result of rising prices on all markets (although the effect on the margin was limited). The recovery in sales volumes to business customers following the Covid-19 measures of 2020 and the colder winter than in 2020 also contributed to the increase in volumes.
In the electricity activities, despite lower sales volumes to industrial customers, sales also rose significantly due to the rise in prices.
The Other international segment principally covers operations in Belgium, the United States, Brazil and Asia (China, Vietnam and Laos). Sales by this segment in 2021 amounted to €3,353 million, an organic increase of €681 million (+28.1%) from 2020.
In Belgium (1), sales registered organic growth of €474 million (+27.3%) compared to 2020, benefiting from higher electricity and gas prices, an increase in volumes sold to business, industrial and residential customers, and weather effects. The residential customer market is still intensely competitive. Annual indexed adjustments of contracts (particularly for residential customers), which are applied throughout the year, do not yet fully reflect the recent rise in electricity and gas prices on the wholesale markets. Greater use was made of the thermal generation fleet, leading to an increase in system services. Wind power development continued, reaching net installed capacity of 591MWh (2) at end-2021.
In Brazil, there was an organic increase of €188 million (+39.7%) in sales, principally due to higher volumes sold on the market and the +28% adjustment in November 2020 of the Power Purchase Agreement (PPA) price attached to EDF’s Norte Fluminense power plant, in line with the change in the ICMS tax (3) (which had no impact on EBITDA). The foreign exchange effect was unfavourable in 2021 (the Brazilian real declined against the euro).
In Vietnam, sales showed an organic increase of €18 million (+10%), in keeping with the rise in gas prices (on a pass-through basis, so there is no impact on EBITDA).
Other activities comprise, among other entities, EDF Trading and the gas activities.
Sales by this segment amounted to €3,905 million in 2021, an organic increase of €1,791 million (+84.2%) from 2020.
The Group’s consolidated EBITDA for 2021 amounted to €18,005 million, an organic increase of 11.3% from 2020.
This trend was also driven by the extremely positive performance in the trading business, by the significant improvements in Italy and in the French regulated activities, and by the reduction in production tax. However, outages and extended outages of nuclear reactors at the end of the year in France required the purchase of volumes on the market against a backdrop of a sharp rise in electricity prices. This had a strongly unfavourable impact. The United Kingdom was negatively impacted by the decrease in nuclear output and the sharp decline in realised nuclear prices stemming from substantial buybacks at high market prices.
| (in millions of euros) | 2021 | 2020 | Variation | Variation (%) | Organic variation (%) |
|---|---|---|---|---|---|
| Sales | Sales 2021 84,461 |
Sales202069,031 | SalesVariation15,430 | SalesVariation (%)22.4 | SalesOrganic variation (%)21.6 |
| Fuel and energy purchases | Fuel and energy purchases 2021 (44,299) |
Fuel and energy purchases 2020(32,425) |
Fuel and energy purchases Variation(11,874) |
Fuel and energy purchases Variation (%)36.6 |
Fuel and energy purchases Organic variation (%)35.3 |
| Other external expenses | Other external expenses 2021 (8,595) |
Other external expenses 2020(8,461) |
Other external expenses Variation(134) |
Other external expenses Variation (%)1.6 |
Other external expenses Organic variation (%)1.3 |
| Personnel expenses | Personnel expenses 2021 (14,494) |
Personnel expenses 2020(13,957) |
Personnel expenses Variation(537) |
Personnel expenses Variation (%)3.8 |
Personnel expenses Organic variation (%)3.5 |
| Taxes other than income taxes | Taxes other than income taxes 2021 (3,330) |
Taxes other than income taxes 2020(3,797) |
Taxes other than income taxes Variation467 |
Taxes other than income taxes Variation (%)(12.3) |
Taxes other than income taxes Organic variation (%)(12.0) |
| Other operating income and expenses | Other operating income and expenses 2021 4,262 |
Other operating income and expenses 20205,783 |
Other operating income and expenses Variation(1,521) |
Other operating income and expenses Variation (%)(26.3) |
Other operating income and expenses Organic variation (%)(26.1) |
| EBITDA | EBITDA 2021 18,005 |
EBITDA202016,174 | EBITDAVariation1,831 | EBITDAVariation (%)11.3 | EBITDAOrganic variation (%)11.3 |
(1) Belgium comprises Luminus and EDF Belgium.
(2) Net capacity of Luminus. Gross installed wind capacity amounted to 658MW (588MW at 31 December 2020).
(3) Tax on Circulation of Merchandise and Services in Brazil.
